Borrowing basis to start, expand business - Mengi

 Poverty not end but challenge in life

IPP Executive Chairman Dr Reginald Mengi addresses women entrepreneurs from across Tanzania at Equal Opportunities for All Trust Fund (EOTF) capacity building seminar held in Dar es Salaam.

 IPP Executive Chairman, Dr Reginald Mengi has called upon Tanzanians not to be scared of borrowing money from financial institutions when they want to start or expand their businesses.

He was speaking at a women entrepreneurs seminar organised by the Equal Opportunity for All Trust Fund (EOTF) yesterday in Dar es Salaam.
Presenting his paper on: ‘Capital does not necessarily entail having cash’ Dr Mengi said, fear undermines development potentials since it prevents one from attempting to pursue their dreams, goals and plans.


“Do not fear to get loans from financial institutions but you should have clear and detailed targets when borrowing to avoid defaulting,” he said, emphasizing that when it comes to starting a business, money is not the determining factor.

“One needs to be faithful, creative and make use of the available opportunities around them,” said the globally acclaimed entrepreneur.
He went on to urge women to be confident and ambitious saying they can achieve whatever they set their minds to.

“Women should walk tall believing that they can achieve a better life and end the cycle of poverty their families’ face,” he said.

“Do not accept by being told that you can’t,” he encouraged them.
He also said that no one has ever succeeded in business short of having confidence and believing that they can because:
“Poverty is not an end to life but a challenge in life.”

At the same occasion, Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA) Development Officer, Emmanuel Nko called upon women entrepreneurs to establish business groups that will ease loan acquisition placing them in a better place to compete in the national, regional and global markets.

SOURCE: THE GUARDIAN